Identity Management and Information Security News for the Week of January 19; Fortanix, QuSecure, SPHERE, and More
The editors at Solutions Review have curated this list of the most noteworthy identity management and information security news for the week of January 19. This curated list features identity management and information security vendors such as Fortanix, QuSecure, SPHERE, and more.
Keeping tabs on all the most relevant identity management and information security news can be a time-consuming task. As a result, our editorial team aims to provide a summary of the top headlines from the last month, in this space. Solutions Review editors will curate vendor product news, mergers and acquisitions, venture capital funding, talent acquisition, and other noteworthy identity management and information security news items.
Identity Management and Information Security News for the Week of January 19
Fortanix Pushes into the New Year by Expanding Leadership Team
Fortanix Inc., a data security solutions provider, this week announced the expansion of its executive leadership team to support the company’s continued growth in protecting sensitive and regulated data for upper mid-market and enterprise companies. New appointments include Linda Chen, Chief Marketing Officer; Anuj Jaiswal, Vice President of Products; Iulia Stefoi-Silver, Vice President of Strategic Alliances and Partnerships; and Andy Buckland, Vice President and General Manager, EMEA. “Fortanix has always been focused on securing what is most valuable to enterprises, namely their sensitive data, and has perhaps never been more relevant than in today’s landscape,” said Anand Kashyap, CEO and co-founder of Fortanix. “These additions to our leadership team will be pivotal as Fortanix positions itself for the next phase of growth in the rapidly expanding cybersecurity and compliance space.”
QuSecure Awarded U.S. Air Force Contract for Post-Quantum Cybersecurity Solutions
QuSecure, Inc., a leader in post-quantum cryptography (PQC), this week announced it has been awarded a Small Business Innovation Research (SBIR) contract by AFWERX to address the most pressing challenges in the Department of the Air Force (DAF). DAF will use QuSecure’s QuProtect, the “industry’s first” end-to-end PQC software-based solution uniquely designed to protect encrypted communications and data with quantum-resilience using quantum secure channels. The Air Force Research Laboratory and AFWERX have partnered to streamline the SBIR and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business, and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. This Air Force SBIR contract award follows similar SBIR contract awards QuSecure has won from the U.S. Army 2023 (Phase II SBIR) and the U.S. Government in 2022 (Phase III SBIR).
Allianz Risk Barometer: “A Cyber Event Is the Top Global Business Risk for 2024”
Cyber incidents such as ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. The closely interlinked peril of Business interruption ranks second. Natural catastrophes (up from #6 to #3 year-on-year), Fire, explosion (up from #9 to #6), and Political risks and violence (up from #10 to #8) are the biggest risers in the latest compilation of the top global business risks, based on the insights of more than 3,000 risk management professionals. In the United States, Cyber has replaced Business interruption as the leading risk for the year ahead. Natural catastrophes rose to the third spot (up from #5 in 2023). For Canadian companies, Business interruption jumped to the top spot (up from #4 in 2023) followed by Cyber incidents and natural catastrophes.
SPHERE Announces New Capabilities Added to Platform
SPHERE, an identity hygiene and access governance solutions provider, this week announced that it has “strengthened its market dominance” with new product capabilities that empower enterprises to discover and secure privileged access across core infrastructure such as AD, Windows, Unix, Database, and more. “We are continually raising the bar for Managing Access, Managing Risk and Managing Identities in the era of identity-first security. SPHEREboard provides a single pane of glass across all accounts across all critical infrastructure with these latest groundbreaking new capabilities “said James Wilde, Global Head of Engineering at SPHERE.
Expert Insights Section
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Passwordless: What Does a World Without Passwords Look Like?
Rohan Ramesh of Entrust poses the question, “What does a world without passwords look like?” And examines if a passwordless world is obtainable. The use of passwords is ubiquitous – whether you are logging into your favorite streaming service, social media platform, or mobile bank account, or accessing emails and files at work every day. Yet, 51 percent of consumers are resetting a password at least once a month simply because they can’t remember it. Moreover, 74 percent of respondents will choose biometrics half the time or more. Consumers are tired of constantly being prompted to enter their credentials to access different apps and sites. Password managers are becoming less helpful and can become expensive as some begin to require a subscription. As a result, this contributes to bad habits, such as weak and re-used passwords, that lead to compromised credentials and costly cyber breaches. The increased challenge in password use has resulted in members of the Cyber Safety Review Board calling on the government to eliminate passwords nationwide. But what does this really look like in practice, and how can businesses prepare their organizations and their employees?
How Leaders Can Make Cybersecurity a Company-Wide Endeavor
Justin Kozak of Founder Shield takes charge and maps out how leaders can make cybersecurity a company-wide endeavor. Leadership accountability in cybersecurity means accepting the responsibility for guiding and enforcing the organization’s cyber stance. This approach involves setting a clear vision for secure operations and communicating the importance of cybersecurity from the top down. A leader’s role continues beyond endorsing cybersecurity policies and procedures. Instead, they must lead by example, ensuring their actions reinforce the security protocols they expect others to follow. On that same note, a committed leadership team is the cornerstone of effective cybersecurity. When leaders prioritize and invest in cyber resilience, it signals to the entire organization that it is critical to the business’s success. This commitment can transform cybersecurity from a checklist item into a strategic asset, helping to prevent threats and mitigate risks.